Apple has been the focus of much attention as it continues to grow, with analysts estimating the company’s market capitalization at $200bn.
But a new study from KPMG shows that Apple’s US market cap has actually fallen to just $40bn.
It found that Apple has already lost $40.7bn over the past 12 months, the biggest decline in the S&P 500 over that period.
That is a loss of just 1% compared to the previous 12 months.KPMG estimates that Apple lost $25.3bn over that same time period, which is a 7.2% decline.
The decline in market capitalisation is due to an increase in retail sales and other costs, the report said.
KpmG estimates Apple’s retail business, which includes its stores and online stores, is expected to lose $5.2bn by the end of the year.
K&z predicts that Apple will be worth just $19.7 billion by 2021.
The report comes as Apple is gearing up for a massive release of the next-generation iPad, with its chief executive Tim Cook expected to unveil the new tablet in early September.
In its research report, KPMT also said Apple has also lost $2.7 trillion to fund its $300bn purchase of Beats Electronics.